Historic Caulfield South Site Hits the Market with Rare Development Potential

Colliers presents a landmark corner site with rich heritage, and strong growth prospects in one of Melbourne’s most sought-after suburbs.

A rare and substantial landholding in one of Melbourne’s most tightly held residential enclaves is now available at 402–406 Kooyong Road, Caulfield South. Occupying a prominent 3,262sqm corner site*, this exceptional property presents a unique opportunity to secure a significant parcel with immense development potential.

Comprising three distinct assets—an iconic church, a hall, and a freestanding dwelling—the site is offered with vacant possession and can be purchased either in one line or individually. Its scale, flexibility, and prime location make it ideally suited for a range of future uses including townhouses, apartments, or adaptive reuse of the existing buildings (STCA).

Philip Heberling, Executive, Development Sites | Residential, said, “This expansive corner site offers a unique canvas for developers or owner occupiers to reimagine a landmark property. With over 1,100sqm* of existing building area, there’s scope for a variety of outcomes—from boutique residential to commercial uses such as offices, childcare, or medical centres (STCA). The flexibility and scale of this offering are truly unmatched in today’s market.”

Strategically positioned just steps from Glen Huntly Road’s vibrant retail and dining precinct, the property is surrounded by elite schools, expansive parklands, and excellent public transport connections. Zoned Neighbourhood Residential, it offers both lifestyle appeal and strong development fundamentals.

Caulfield South is undergoing a wave of transformation, with new residential developments gaining strong market traction. This reflects growing demand for high-quality housing in the area, supported by strong rental yields and a vibrant local lifestyle. The suburb’s evolving landscape makes this offering a timely and strategic acquisition for developers looking to capitalise on continued growth.

Ben Baines, Colliers Director | Investment Services, added, “Caulfield South is a blue-chip suburb just 10km from Melbourne’s CBD, offering the perfect blend of suburban tranquillity and urban connectivity. With a median house price of $1.8 million and a clearance rate of 89.3%, the area continues to outperform the broader Melbourne market. This is a location that delivers on both lifestyle and investment fundamentals.”

Located at the intersection of Kooyong Road and Clarence Street, the property is surrounded by premium homes, vibrant shopping strips, bayside beaches, and leading healthcare and education facilities. It represents a rare chance to secure a high-profile site in one of Melbourne’s most connected and desirable neighbourhoods, just 10 kilometres* southeast of Melbourne’s CBD.

Colliers Philip Heberling, Ben Baines and Aaron Choong are managing the Expressions of Interest campaign, closing Thursday 12 June 2025 at 2pm (AEST).